Street Smart Pricing, Part 3 : Convince Your Customers to Happily Pay You
You are here. Yay! Give yourself a pat on the back for making it this far.
If you have been following my Street Smart Pricing series in the past couple of weeks, you would have learned how to calculate the best retail price for your products, and how to manage the fear that no one will pay what you asked for.
In this final part, we are going to discuss strategies to convince your customers to happily send money your way.
First, you need to think like your customer.
What is going on in your customers’ head that is making them hesitate to click on the Buy Now button?
“I love this piece but I can’t afford it.”
“Is there a more budget friendly (read : cheaper) version of this product?”
“I wish I know who to give it to / what to do with it because I would so buy this!”
I am pretty sure that you can think of a few more to add to the above but I find that these are the most common reasons for a customer not to purchase something. The last thing you want is to be stuck with an amazing product on your hands, well worth the price tag you gave it, but no takers.
To persuade your customers to hand over their cash or credit card details with a smile, put the following strategies into action.
Strengthen the relationship between you and your customer
One of the important aspects of being a handmade seller is the close connection or relationship that you are able to form between yourself and your customer. Let’s take a vote: how many of you are more willing to purchase handmade from someone you know or like as oppose to merely buying a pretty item from a complete stranger?
Be professional yet friendly to your fans, your followers, and your buyers.
Genuinely connect with them and ask how their day is going, whether they need any help or if they are struggling with anything (such as choosing a gift for a 10 year old boy). Let them have a peek into your studio. Show them a few behind the scenes action of how you make a product. Don’t even be afraid of pointing out some duds you have in storage. A healthy relationship with your customers will lead to high level of trust in your business and the increased likelihood that people will happily support and buy from you.
Offer more than 1 option to suit various budgets and price points
Let’s say you are an artist. Your original artwork comes with a price tag that most people cannot afford it. You can either sit and wait for the right buyer to come along, or you can be proactive and offer few budget friendly options to encourage the clicking frenzy on the Buy Now button.
It takes less time to think about spending $15 on a set of mini prints compared to spending $150 on an original artwork.
Are you able to incorporate your art into other types of products such as postcards, greeting cards, mini prints (instead of originals), jewellery, mugs, magnets, coasters, fabric?
One word of caution here – if you decide to introduce different kinds of products in your store, ensure you tie it all together with cohesive product photography or stick to your core brand elements (for example modern, retro, whimsical, childlike) otherwise your store risk looking like a mess and may turn the buyer away.
Help your customers to see/feel/imagine the benefits of your product
To be perfectly honest sometimes when I see a product I admire even though I tell myself that I can’t afford it, I am really trying to say that I don’t see the benefit of adding it to my shopping cart.
That is how it is with a lot of people. Most of us can afford it but not all of us are being wooed into seeing the benefits or being convinced that it is something we cannot live without.
How does your product fit in your customer’s life? What feelings do you wish to invoke in them (yes, push those hot buttons of the impulse buyers!)? Show the benefits or the use of your product by taking ‘in action’ shots or making a simple slideshow that you can upload onto your blog or social media page.
Make it as painless as possible for your customer to buy from you
I hope that you are not making your customer jump through hoops in order to purchase your product.
Make your customer feel comfortable buying from you and make it clear that you are serious in wanting them to experience an out-of-this-world customer service. Are your terms and conditions laid out clearly and as succinctly as possible? (No one has time to read 10 pages worth of fine print.)
What is your turnaround time if a customer purchased a made to order product (do I have to wait for 2 days or 2 months for my order)?
What if it gets lost or damaged in the post (do I get a replacement)?
What is your return policy (what if I ‘change my mind’)?
Have these answers ready on your store’s page and there will be less hesitation in buying from you.
Over to You
What action can you take now to persuade your customers to happily buy from you?
Cassie Lee helps entrepreneurs to boldly punch their inner critic in the face if it gets in the way of having a rewarding business.
Grab a copy of her free Ebook “You are What You Think” as the first step towards developing your ideal mindset for some serious action taking.